Industrial Robot Sales in India Expected to Continue Growth in 2024 - News

India’s industrial robot market is expected to grow further in 2024 and 2025, following a record year in 2023. Sales reached an unprecedented 8,510 units last year, a 59 percent increase from 2022, positioning India seventh globally for robot installations, as detailed in the World Robotics 2024 report by the International Federation of Robotics (IFR).

Marina Bill, President, International Federation of Robotics (IFR), highlighted the significant growth in the country’s robotics sector, noting that the operational stock of industrial robots had almost doubled since 2018, reaching 44,958 units in 2023, with an average annual growth rate of 14 percent.

The automotive industry remains the largest consumer, accounting for 42 percent of the market share, with a 139 percent increase in robot installations to 3,551 units last year. This growth has been fuelled by investments in electric vehicles and battery production, signalling a shift toward automation in manufacturing.

Looking ahead, the Organisation for Economic Co-operation and Development (OECD) forecasts a GDP growth rate of 6.5 percent for India in the fiscal years 2024 and 2025. The automotive sector’s ongoing investment projects are expected to drive demand for robots as manufacturers seek to improve efficiency and production capabilities.